U.S. Movers: ConocoPhillips, Fairchild, JPMorgan, Nexen, Yum Brands

Mukesh Buch
14 Jul, 2011
New York City

ConocoPhillips plans to split its refining and energy exploration businesses. JPMorgan second quarter net increased 13% to $5.4 billion. Nexen second quarter net increased to $252 million. YUM! Brands second quarter net increased 10% to $316 million.

[R]11:20 AM New York – ConocoPhillips plans to split its refining and energy exploration businesses. JPMorgan second quarter net increased 13% to $5.4 billion. Nexen second quarter net increased to $252 million. YUM! Brands second quarter net increased 10% to $316 million.[/R]

Of 30 the stocks in the Dow, 25 increased and 5 decreased.

Of the stocks in the Dow Jones Industrial Average, JPMorgan Chase & Co. led the gainers with a rise of 3.23% followed by increase in McDonald’s Corporation of 1.60%, in Caterpillar Inc. of 1.55%, in General Electric Company of 1.35%, in Merck & Co., Inc. of 1.30%.

Wal-Mart Stores, Inc. led the decliners with a fall of 0.94%, followed by decline in 3M Company of 0.81%, in Pfizer Inc. of 0.28%, in The Boeing Company of 0.15%, in Alcoa Inc. of 0.06%.

Other Movers

Bank of the Ozarks, Inc. ((OZRK)) decreased 1.3% o 73 cents to $52.47 after the bank holding company reported second quarter net interest income soared 42.9% to $42.5 million from $29.7 million in the same quarter last year. Net earnings in the quarter surged 361% to $50.2 million or $2.91 per diluted share compared to $10.9 million or $0.64 per share a year ago.

ConocoPhillips ((COP)) increased 4.7% or $3.50 to $77.90 after the integrated energy company plans to split in to refining and marketing and exploration and production businesses into two publicly traded corporations. The separation of the companies is expected to be completed in the first half of 2012.

Commerce Bancshares, Inc. ((CBSH)) slipped 1.2% or 56 cents to $42.82 after the bank holding company reported second quarter net interest income rose to $164.7 million from $163.1 million in the same quarter last year. Net earnings in the quarter increased to $69.0 million or 79 cents per diluted share compared to $59.7 million or 68 cents per share a year ago.

Fairchild Semiconductor International, Inc. ((FCS)) gained 3.2% or 53 cents to $16.66 after the semiconductor maker said second quarter sales rose 5% to $433.2 million from $409.6 million in the same quarter last year. Net income in the quarter edged up to $44.9 million or 34 cents per diluted share compared to $43.5 million or 33 cents per share a year earlier.

JPMorgan Chase & Co. ((JPM)) advanced 3.2% or $1.29 to $40.91 after the financial holding company reported second quarter total revenues increased 7% to $26.8 billion from $25.1 billion in the same quarter last year.

Net income in the quarter increased 13% to $5.4 billion or $1.27 per diluted share compared to $4.8 billion or $1.09 per share a year ago.

Marriott International, Inc. ((MAR)) slumped 7.1% or $2.67 to $34.47 after the hotels and motels operator reported second quarter total revenues rose 7% to $2.97 billion from $2.77 billion in the same quarter last year. Worldwide comparable systemwide revenues per room rose 7.7%.

Net income in the quarter increased 13% to $135 million or 37 cents per diluted share compared to $119 million or 31 cents per share a year ago.

Nexen Inc. ((NXY)) rose 0.6% or 15 cents to $22.21 after the Canada based energy company reported second quarter revenues rose to $1.60 billion from $1.40 billion in the same quarter last year. Net income in the quarter increased to $252 million or 45 cents per diluted share compared to $245 million or 43 cents per share a year ago.

Texas Industries, Inc. ((TXI)) decreased 1.1% or 45 cents to $40.01 after the heavy construction material supplier said fourth quarter revenues fell to $175.8 million from $176.3 million in the same quarter last year. Net loss in the quarter flat to $9.1 million or 33 cents per diluted share compared to $9.8 million or 35 cents per share a year earlier.

Universal Forest Products, Inc. ((UFPI)) soared 19.9% or 4.80 to $28.87 after the holding company said second quarter revenues decreased 15% to $544.1 million from $638.6 million in the same quarter last year. Net earnings in the quarter fell to $4.3 million or 22 cents per diluted share compared to $13.7 million or 70 cents per share a year ago.

Winmark Corporation ((WINA)) fell 0.4% or 18 cents to $44.71 after the retail store operator said second quarter total revenue increased to $15.2 million from $9.9 million in the same quarter last year. Net income in the quarter fell to $3.40 million or 65 cents per diluted share compared to $2.34 million or 45 cents per share a year earlier.

YUM! Brands, Inc. ((YUM)) increased 2.1% or 1.18 to $56.76 after the restaurant company reported second quarter total revenues increased 9% to $2.82 billion from $2.57 billion in the same quarter last year. Same-store sales grew 18% in China and declined 4% in the U.S.

Net income in the quarter increased 10% to $316 million or 65 cents per diluted share compared to $286 million or 59 cents per share a year ago.